Independent Insurance Agents & Brokers Of New York Inc
- Assets
- $3.7m
- Revenue
- $2.8m
- Investments
- $850.0k
- Employees
- 32
- Location
- Dewitt, NY
- Founding
- 11/1959
- Data as of
- 04/2022
- EIN
- 15-0544434
Organization Overview
Independent Insurance Agents & Brokers Of New York Inc, operating under the name Big I New York, is located in Dewitt, NY. The organization was established in 1959. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 04/2022, Big I New York employed 32 individuals. This organization is the central organization for a national or regional group of organizations. Big I New York is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 04/2022, Big I New York generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $2.5m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRADE ASSOCIATION WHICH PROMOTES AND REPRESENTS THE COMMON BUSINESS INTERESTS OF INDEPENDENT INSURANCE AGENTS AND TO PROVIDE THE RESOURCES THEY NEED TO BE THEIR BEST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY OF MEMBER INTERESTS - BIG I NY WORKS WITH LEGISLATORS, REGULATORS, INSURANCE COMPANIES AND THE MEDIA TO INFORM THEM ABOUT ISSUES CRITICAL TO INDEPENDENT AGENTS AND TO CREATE PROPER PUBLIC POLICY AND CARRIER ACTIONS TO ADVANCE THOSE INTERESTS.
EDUCATION AND CONTINUING EDUCATION - BIG I NY'S EDUCATIONAL PROGRAMS PROVIDE INSTRUCTION TO CURRENT AND PROSPECTIVE INSURANCE PROFESSIONALS, FOR CONTINUING EDUCATION TO MAINTAIN LICENSE, ETHICS TRAINING, SALES TRAINING, TECHNOLOGY TRAINING, COVERAGE TRAINING AND COMPLIANCE TRAINING.
MEMBERSHIP DEVELOPMENT - BIG I NY STRIVES TO PROVIDE SERVICE TO ITS MEMBERS AND TO ADD NEW MEMBERS THROUGH ITS ACTIVITIES AND THE ACTIVITIES OF ITS NATIONAL, INDEPENDENT INSURANCE AGENTS & BROKERS OF AMERICA, INC. (IIABA).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Lounsbury President/ceo | Officer | 18.75 | $162,137 |
Scott Hobson Avp Government Relations | Officer | 32 | $101,943 |
Kathy Lawler Avp Communities & Relation | 22.5 | $70,884 | |
Lisa Nurnberger Director Of Finance - Star | Officer | 16.9 | $40,889 |
Brian Bixby President Of Iaac | 5.6 | $22,679 | |
David Maclachlan Immediate Past President | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $192,345 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,345 |
| Total Program Service Revenue | $1,907,001 |
| Investment income | $86,125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $395,457 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $201,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,782,783 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $208,892 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $841,898 |
| Pension plan accruals and contributions | $111,919 |
| Other employee benefits | $87,863 |
| Payroll taxes | $77,269 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,879 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,005 |
| Fees for services: Other | $66,377 |
| Advertising and promotion | $5,231 |
| Office expenses | $45,979 |
| Information technology | $112,227 |
| Royalties | $0 |
| Occupancy | $82,309 |
| Travel | $63,828 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $258,576 |
| Interest | $0 |
| Payments to affiliates | $404,889 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,871 |
| All other expenses | $650 |
| Total functional expenses | $2,502,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,192 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $65,156 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,402,077 |
| Investments—other securities | $849,997 |
| Investments—program-related | $5,000 |
| Intangible assets | $0 |
| Other assets | $973,017 |
| Total assets | $3,676,015 |
| Accounts payable and accrued expenses | $299,567 |
| Grants payable | $0 |
| Deferred revenue | $508,594 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $319,510 |
| Total liabilities | $1,127,671 |
| Net assets without donor restrictions | $2,548,344 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,676,015 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independent Insurance Agents & Brokers Of New York Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
American Property Casualty Insurance Association Chicago, IL PURPOSE: Gen support for org stated IRS purpose. | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Painters Welfare Fund Pittsburgh, PA | $17,172,930 | $23,602,516 |
Mutual Beneficial Association Inc Berwyn, PA | $132,759,628 | $20,036,739 |
Centers For Care Health Plan Bronx, NY | $49,972,187 | $33,212,808 |
Stewart Employee Benefit Trust York, PA | $728,219 | $17,071,502 |
Redners Voluntary Employees Benefit Plan And Trust Reading, PA | $695,082 | $16,941,479 |
Lufthansa German Airlines Long Term Disability Benefits Pl Tr Uniondale, NY | $2,508,054 | $15,798,770 |
Welfare Fund Heat And Frost Insulators Local 12 Long Island City, NY | $34,847,538 | $18,361,265 |
First Medical Insurance Compant A Risk Retention Group Colchester, VT | $102,134,145 | $15,354,853 |
Mrm Property And Liability Tr Inc Sewickley, PA | $33,998,884 | $14,896,339 |
Giorgio Health & Welfare Plan Temple, PA | $32,283 | $14,373,210 |
Centers For Care Health Plan co Bronx Funding LLC Bronx, NY | $25,788,041 | $17,894,242 |
Rvc Insurance Company Inc Rockville Centre, NY | $295,933,062 | $29,353,576 |